UK to Invest US$377 Million Over Five Years for "Amibitious" Nuclear R&D Program

World Nuclear News reported that the UK will invest $377 million (GBP250) over the next five years in what is being called an “ambitious” nuclear research and development program, according to the government’s Spending Review and Autumn Statement.
As quoted in the market news:

British Chancellor George Osborne’s ‘Comprehensive Spending Review’ says this program will “revive the UK’s nuclear expertise” and position the country as “a global leader in innovative nuclear technologies”.
Funding for this program is included in the “settlement” for the Department of Energy and Climate Change (DECC).
“The government’s doubling of investment in DECC’s innovation program will help position the UK as an international leader in small modular nuclear reactors, and deliver commitments on seed funding for promising new renewable energy technologies and smart grids,” according to the Review. The move is part of government plans to “prioritize energy security, whilst making reforms to meet our climate goals at lower cost”.
This will include a competition to identify the best value small modular reactor (SMR) design for the UK, paving the way towards building one of the world’s first SMRs in the country in the 2020s. Detailed plans for the competition will be brought forward early next year.

Click here to read the full World Nuclear News report.